Sinotrans Inks Service and Purchase Agreements With China Merchants' Units; Shares Down 2%

MT Newswires Live10-28

Sinotrans (HKG:0598) has entered into three new master agreements covering logistics and procurement transactions with subsidiaries of China Merchants Group, according to a Monday Hong Kong bourse filing.

Shares of the logistics firm lost over 2% in Tuesday morning trade.

The company signed separate service agreements with Sinotrans Changjiang and Jiangsu Shipping Agency, allowing mutual provision of freight forwarding, shipping, storage, road transport, and express logistics services through 2028 and 2027, respectively.

It also entered into a master purchase agreement with Zhejiang Daojiahui to source office supplies and equipment online through 2028.

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